securitization

A Speculative Story: Treasuries in Belgium, Russians in Ukraine, and Derecognized NFC Loans Changing Across Europe (but mainly Belgium)

By Jeffrey P. Snider|2022-02-27T15:35:30-05:00February 27th, 2022|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Have European banks begun to lend in a way that will lead to actual inflation? For Europe’s central bankers, this is a huge question. For so many years despite almost constant QE, banks have consistently refused to do so. Even with supercharged asset purchases begun in 2020, there still hasn’t been any correlation between ECB activities and bank lending.This is [...]

How Do You Spell R-E-P-O With C-L-O?

By Jeffrey P. Snider|2019-11-13T14:14:32-05:00November 13th, 2019|Bonds, Economy, Federal Reserve/Monetary Policy|

There’s trouble brewing in a particular sector of the corporate bond market. It’s not really new trouble, merely the continuation of doubts and angst that have existed for more than a year already. What’s different now is that it is finally causing more open disruptions, and thus sparking our interest as to what it might mean well beyond this specific [...]

Root Monetary Behavior

By Jeffrey P. Snider|2017-06-19T18:01:39-04:00June 19th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

Capitalism has always featured feedback mechanisms. They never were perfect, as nothing is going to ever be. Instead, market discipline was always a messy affair as it more often throughout history included periods of undisciplined behavior followed closely by mass exodus, crash, and then depression. Economists after 1929 thought of themselves as a replacement mechanism for self-correction. Regulators had until [...]

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